The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1887-06-02
E&icIxing Against ssse elSurM ber,-
lRRtk San.
lN0Ql lNeld NMronlcle

The resolution of our town conn.
Gil, published in another column, is
startling. 1t is also brave, wise, and
ludlcat!ye of both Conscientious pub,
lic spnit and much manly grit. II
pronounces null and void the relin,
/ qnlshment OF the mortgage made by
our town council Of 1884 to the Chr
olina, Cumberland Gap g. Chicago
Railroad Company.
We will run over the past history
of this matter for the benefit of our
readers. When the Edegfeld Branch
Railroad was first chartered, our town
council was authorized to subscribe
$2O, 900 to its capital stock. The
council under Intcndant ID. II. Duri-
50, did subscribe $4,000, and subse-
quently under Intcndant II G. Bon
ham, $4,000 more, making $4,000
in all; and took mortgage from tho
road to secure them. Then in 1884,
some time after our branch road had
beer consolidated with the Carolina,
Cumberland Cap e. Chicago, Gov.
HagOod, president of the consolila
ton, appeared before our council and
made statement to the effect that
SchOficld, who WAS then raising mon
cy to build the great Road---and he
has been raising it ever since-was
hampcred by the mortgage, and that
he believed Sch0fcld could raise the
said money if our council would rclin
quish sitid mortgage, promising the
council thnt if they would execute
such r,rlinQuishmcnt, the c., G. g. &
{. Company would issue to the coun-
cll first mortgage bonds to the c., G.
&c. ~ 6. to the amount Of the mort
gage they already had. The council
under the advise Of three or four Of
our most prominent and Intelligent
citizens, proceeded to release the
mortgaGe, for which, as is well known,
they have never rcccirel the pairing Of
II nail. On the contrary, trouble, loss
and vrXatlOn of spirit have fallen up
on oHrp"op(c, many of whomIhave been
paying taxes with oursccmitics gone.
Lately, Moore and Sinott, owners
of EdGvticll Branch Railroad bonds
have sued our town in the United
States Court for $25, 900, and no an
Swer having been put in, they have
acknowledgement by default against
the town on their bonds.
And now, by its lat &c action, and
through its attorney, Mai Earnest
Gary, our present council is cndeav
oring to have this Judgment opened
for the purpose of putting in a de
Tense, and have brought suit to have
the accomplishment set aside and the
nlortgago given by the Edgciicld
1ranch Ron! to the council, forcclos
cd, to indemnity the town for having
paid tax on these bonds since 1879
OF the $4,000, some $4,000 has
been paid, leaving between $1,000
and $8, 1000. Under the circumstan
ccs, 1T is great pity, that one cent
was ever paid.
This case will probably come be,
fore our Circuit Court in August
And VIC believe our town will regain
possession Of tho ElGclirld Branch
Road. Then let the bond-holdcrs
buy the rond-hed and buill the rond
from her. to Trenton. Yes, let Us
all throw UP our hats on this propo
S'tlon: !'.,.j Inc bond ilolLcgs buy the
road and build ii!
Or pcrH%ps the Georgia & Carnli
ma Midland, which seems to be bur.
dcncd with funds, would buy rs much
OF the bed us they might nccI, pay,
ing enough therefor to indemnify oul
haplcss town.
Rc%OlutiOMS Adopted by The
T0vVll COunril of Edapiipyd.